Large Poway property to be auctioned off Friday

POWAY -- Some 125 acres with expansive views of the Maderas
Country Club and the city's Old Coach area will be up for grabs
Friday.

Spread out over four parcels, the vacant residential land will
be auctioned off to the highest bidder or bidders in a one-day
auction to be conducted by a firm representing the property's
owners. Sale of the parcels, which range in size from about 15
acres to about 40 acres, will start at 11 a.m. Friday at the
country club.

Whoever is victorious will walk away from the auction owning
property in an area known for exclusive, custom homes on large
lots.

In the past, rumors about potential attempts by unknown buyers
to lock up property in that area have sparked concerns among Poway
residents that the ridgeline's sweeping silhouette could be marred
by development.

The site's position -- primarily atop a ridge in the city's
northeast corner -- means potential owners will have some hurdles
to overcome if they want to build on the property, whose western
edge fronts Old Coach Road.

The list of obstacles includes very steep slopes, city grading
requirements that limit to five the number of homes possible on the
site, and a lack of access to the very sections of the property
offering the best vistas.

"This is going to be a very difficult piece of property to
develop," Poway development services Director Niall Fritz said
Monday. "It's basically a ridge that goes from Ramona and drops
down into Old Coach … There's terrific views up there, but getting
there is a problem."

The access problem was underscored when property owners Richard
Blount and Carlos Royal started to clear a route into the land in
2000.

Carried out without a permit, the work angered city officials,
who said it destroyed natural habitat.

At the time, Blount and Royal said they were unaware they needed
a permit and were simply trying to create a way onto the site in
order to build their dream homes.

The habitat issue was resolved when the men reseeded native
plants and did other habitat restoration. On Monday, Royal, who is
a real estate investor, said he and his partner, who is a real
estate agent in Carlsbad, have since fallen in love with and
purchased another residential property in San Marcos.

The vibrancy of San Diego County's real estate market suggests
this is a good time to recoup their investment in the Poway
property, Royal said.

The men chose the auction route because it offers them a quick
way to cash in and move on to other real estate opportunities, he
added.

"We just think the timing is right," Royal said. "We've never
done this (type of sale) before. It should be real exciting."

Carl Carter, who is overseeing auction preparations for J.P.
King, said auctions are commonly used for unique, high-end
properties likely to appeal to very select groups of potential
buyers. Typically priced at $1 million or more, such properties
could otherwise take months or years to sell, he said.

A national advertising campaign by J.P. King that included
showcase ads in "Dream Homes" magazines in several Southern
California counties has generated considerable interest in the
Poway property, Carter said.

"We've heard from people in eight different states on that
property (and) had well over 150 inquiries on it," he said. "We'll
have to wait and see how many of those people are bidders. I hope
all of them."

City officials and local real estate brokers familiar with the
property said they would be surprised if the auction draws many
actual bidders, because of the development challenges involved.

Someone interested in building a personal estate overlooking
Maderas' golf course and developers with projects in the works on
adjacent properties that could provide access to Blount's and
Royal's land are the most likely candidates, the officials and
brokers said.

Blount and Royal will provide chartered helicopter views of the
property to qualified bidders on Thursday. Those who wish to be
represented at the auction by a broker must register with J.P. King
by 11 a.m. Wednesday.

Other prospective buyers can register for the auction the day of
the event but must bring along a $25,000 cashiers check for each
parcel they expect to bid on. The country club is at 17750 Old
Coach Road.

For information, call J.P. King at (800) 558-5464 or go to the
company's Web site at www.jpking.com.